Salem Communications Declares Fourth Quarter 2012 Dividend

(November 29, 2012)

CAMARILLO, CA -- (Marketwire) -- 11/29/12 -- Salem Communications Corporation (NASDAQ: SALM), a leading U.S. radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and conservative opinion content, announced that its Board of Directors has declared a dividend for the fourth quarter of 2012 in the amount of $0.035 per share of its Class A and Class B common stock. The cash dividend will be paid on December 28, 2012 to all common stockholders of record as of December 14, 2012.

Salem Communications Corporation is the largest commercial U.S. radio broadcasting company that provides programming targeted at audiences interested in Christian and conservative opinion radio content, as measured by the number of stations and audience coverage. Upon completion of all announced transactions, the company will own and/or operate a national portfolio of 99 radio stations in 38 markets, including 61 stations in 22 of the top 25 markets. We also program the Family Talk Christian-themed talk format on SiriusXM Channel 131.

Salem also owns Salem Radio Network, a national radio network that syndicates talk, news and music programming to approximately 2,300 affiliated radio stations and Salem Media Representatives, a national media advertising sales firm with offices across the country.

In addition to its radio broadcast business, Salem owns an Internet and a publishing division. Salem Web Network is a provider of online Christian and conservative-themed content and streaming and includes websites such as Christian faith focused Christianity.com, Questions and Answers about Jesus Christ at Jesus.org, Christian living focused Crosswalk.com®, online Bible at BibleStudyTools.com, Christian videos at GodTube.com, a leading website providing church media at WorshipHouseMedia.com and Christian radio ministries online at OnePlace.com. Additionally Salem owns conservative news leader Townhall.com® and conservative political blog HotAir.com, providing conservative commentary, news and blogging. Salem Publishing circulates Christian and conservative magazines such as Homecoming® The Magazine, YouthWorker Journal, The Singing News, FaithTalk Magazine, Preaching and Townhall Magazine. Xulon Press is a provider of self publishing services targeting the Christian audience.